PASHA Bank, recognized as a "financial bridge" within the Turkey, Azerbaijan, and Georgia triangle, became the pioneer of Asset-Backed Securities (ABS) issuances in Turkey in 2020. In four years, PASHA Bank facilitated 30 issuances for the agriculture, chemical, and automotive sectors, generating resources totaling TRY 2 billion 153 million. Marking another first in Turkey, the bank created a digital channel that allows qualified investors who are not PASHA Bank customers to participate in ABS issuances.
In 2023, PASHA Bank reached an asset size of TRY 9 billion 910 million, solidifying its position as the leading bank in alternative investment instruments through ABS issuances. Since its initial issuance in 2020, the bank has conducted 30 issuances in a span of four years, providing a total of TRY 2 billion 153 million in resources for these sectors. Increasing its ABS issuances every year, PASHA Bank made a significant move in 2023 with TRY 948 million in ABS issuances. Primarily focusing on the agriculture sector for ABS issuances, PASHA Bank has set another precedent in Turkey by enabling "qualified investors who are not PASHA Bank customers" to benefit from these issuances. PASHA Bank General Manager H. Cenk Eynehan provided insights about the Asset-Backed Securities (ABS) issuances accessible via a digital channel on PASHA Bank's website, set to launch on March 1, 2024. He stated: “We brought qualified investors together with our customers by intermediating the issuance of ABS, a structured capital market instrument for our customers operating in the agriculture, chemicals and automotive sectors, which have a pool of quality assets but lack access to financing on favorable terms through such transactions. Agriculture is particularly a priority sector for us because it's not only vital for Turkey but also a global agenda. Similarly, when we look at the automotive sector, there is significant car production in our country, and there’s the reality of TOGG, which started production in 2023 and is expected to strengthen its position in the sector in the coming years. Our bank, especially under today's conditions, has played a pivotal role in addressing a critical gap by being a leader in providing resources to the real sector. Since our first ABS issuance in 2020, PASHA Bank has reached a volume of TRY 2 billion 153 million, with TRY 948 million of this support coming in 2023 alone. By integrating our leadership and experience in ABS issuances with the digital world, we have created a digital channel that will be implemented for the first time in Turkey, where qualified investors who are not customers of our Bank can participate in the issuance through our website. We expect investment in ABS issuances to accelerate in Turkey, as in countries with developed capital markets. As PASHA Bank, we continue to support the real sector and grow by contributing to the Turkish economy. In March, we will issue an ABS amounting to TRY 200 million for the agricultural sector.” He also stated that they will realize over TRY 1 billion of ABS issuance in 2024. In order to benefit from ABS issuances, it is enough to click on the 'Bonds, ABS' section on the website www.pashabank.com.tr.